Examples of Initial Grants in a sentence
In the event that the Closing fails to occur for any reason by June 28, 2005, then the Initial Grants will be automatically canceled and you will be entitled to no payments or benefits with respect thereto.
Initial Grants shall become exercisable as they vest as to 25% of the Shares upon the first anniversary of the date such Option is granted and an additional 2.0833% of the shares each month thereafter and become fully vested on the fourth anniversary of the date of grant, so long as the Non-Employee Director continuously remains a director or a consultant of the Company.
Initial Grants: 1/36th of the shares of Common Stock subject to an Initial Grant shall vest monthly over three (3) years.
Initial Grants shall vest ratably in equal annual installments on each of the first three anniversaries of the date of grant.
Supplemental Initial Grants shall vest ratably in equal annual installments on each of the first three anniversaries of the date of grant, and Supplemental Annual Grants shall fully vest on the first anniversary of the date of grant.
The remaining 50% shall become exercisable as to 1/36 of the remaining Shares on each monthly anniversary of the date of grant, such that Initial Grants are fully vested and exercisable on the third anniversary of the date of grant, so long as the Non-Employee Director continuously remains a director, consultant or employee of the Company.
All Initial Grants and Annual Grants held by an Eligible Director shall become fully vested and exercisable upon the termination of the Eligible Director’s Continuous Service by reason of Retirement, unless otherwise expressly set forth in the applicable Stock Award Agreement(s).
Initial Grants shall be made on the first business day after the date such Optionee is first elected to the Board.
Initial Grants shall vest and become exercisable as to 1/36 of the total Shares subject to the Initial Grant on each monthly anniversary of the date of grant, such that Initial Grants are fully vested and exercisable on the third anniversary of the date of grant, so long as the Non-Employee Director continuously remains a director, consultant or employee of the Company.
The Program became effective as of the Registration Date on December 1, 1999, and was first amended and restated by the Board on April 22, 2001 to increase the number of Shares granted pursuant to Initial Grants and Subsequent Grants (as defined below) and to change the vesting provisions thereunder.